Ion Exchange Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 26, 2023 at 02:15 pm
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Ion Exchange (India) Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 6,474.8 million compared to INR 4,963.6 million a year ago. Revenue was INR 6,529.7 million compared to INR 5,175.4 million a year ago. Net income was INR 816.8 million compared to INR 830.7 million a year ago. Basic earnings per share from continuing operations was INR 6.89 compared to INR 7.007 a year ago. Diluted earnings per share from continuing operations was INR 6.89 compared to INR 7.007 a year ago.
For the full year, sales was INR 19,896.1 million compared to INR 15,768.7 million a year ago. Revenue was INR 20,306.8 million compared to INR 16,185.7 million a year ago. Net income was INR 1,967.4 million compared to INR 1,627.8 million a year ago. Basic earnings per share from continuing operations was INR 16.595 compared to INR 13.73 a year ago. Diluted earnings per share from continuing operations was INR 16.595 compared to INR 13.73 a year ago.
Ion Exchange (India) Limited is engaged in manufacturing resins, specialty chemicals for water and wastewater treatment as well as non-water applications. The Company provides a range of solutions across the water cycle from pre-treatment to process water treatment, wastewater treatment, recycle, zero liquid discharge, sewage treatment, packaged drinking water, and sea water desalination. It operates through three segments: Engineering, Chemicals, and Consumer Products. The Company offers water and environment management solutions to the industrial sector as well as homes, hotels, spas, educational institutions, hospitals, laboratories, the realty sector, defense establishments, and rural communities. It has manufacturing facilities at Hosur (Tamil Nadu), Patancheru (Telangana), Ankleshwar (Gujarat), Navi Mumbai (Maharashtra), and Goa. It has operations across South Asian Association for Regional Cooperation (SAARC) countries, South East Asia, Middle East, Africa and North America.